VANCOUVER, BC — February 26, 2026 — Leads & Copy —
American Salars Lithium Inc. (CSE: USLI, OTC: USLIF, FWB: Z3P, WKN: A3E2NY) has announced it has entered into a Mineral Claims Option Agreement dated February 24th, 2026, to acquire up to a 100% undivided interest in the Petawaga Lithium–Niobium–Uranium Project located approximately 45 kilometres northwest of Mont-Laurier, Québec.
The seven claims cover approximately 411 hectares and encompass the entirety of the historical Petawawa River showing, including the site of a 45 kg bulk sample collected from a pegmatitic dyke that returned 3.4% Nb2O5 and 0.65% U3O8. The property benefits from year-round road access and proximity to established infrastructure in the Mont-Laurier region.
Historical exploration results are derived from publicly filed assessment reports available through the SIGÉOM geological database administered by the Ministère des Ressources et des Forêts du Québec.
The Petawaga Project is located in the southwest part of the Grenville Geological Province and straddles the limits of the Baskatong Promontory and the Central Gneissic Belt, two structural domains separated by a major thrust fault. Historical exploration work reported the presence of several pegmatites located nearby the Petawaga River. Samarskite, euxenite, thorianite, columbite and lepidolite were recognized in these pegmatites.
On a regional scale, the area surrounding Mont-Laurier is known to host several uranium pegmatites and, more lately, niobium and REE-bearing dykes were identified (Boxi, Lac Lyon, Lac Leroux showings). These showings are located on the margin of the Baskatong promontory and Central Metasedimentary Belt, which suggests a favorable context for the emplacement of pegmatites derived from anatexis.
The company cautions that historical results have not been independently verified and should not be relied upon as current mineral resources. However, the bulk nature of the sampling indicates that the grades were not derived from selective grab specimens but from material collected at meaningful scale.
Under the terms of the agreement, American Salars may earn up to a 100% undivided interest in the claims by making aggregate cash payments totaling C$120,000 over a three-year period, structured as follows:
- C$5,000 upon signing of the agreement
- C$5,000 within 60 days
- C$10,000 at three months
- C$10,000 every three months thereafter until the total consideration of C$120,000 has been paid
Upon completion of the payment schedule, 100% ownership of the claims will transfer to the company.
In the event of default, the Vendors retain termination rights subject to notice and cure provisions as set out in the agreement.
The Vendors are arm’s length to the Company.
Isabelle Robillard, P. Geo (OGQ#287), a “qualified person” as defined by National Instrument 43-101, has reviewed and approved the technical data disclosed in this release.
American Salars Lithium is focused on exploring and developing high-value battery metals projects for the electric vehicle market.
“R. Nick Horsley”
R. Nick Horsley, CEO
Source: American Salars Lithium Inc.
